JOINT PRODUCTS: COLLABORATIVE PRODUCT LINES
Imagine two powerful brands. Brands like Adidas and Samsung. They already have notoriety in the market, due to their unique approach. These brands and those alike them, that offer quality to customers who purchase and repurchase them for years, would create a boom in the industry if they were to merge their forces.
Wouldn't it be great to see a collaboration between such powerful brands? And by collaboration, we do not mean a discount coupon with two logos stuck on it. We mean creating joint products! Joint products are the result of the mutual agreement of two partners to create a new product designed to add value to the both of them.
It would be great for such a thing to exist, wouldn’t it? What a relief it does exist! Joint products are a strong component of each marketing strategy there is out there! When thinking about joint products you must envision an amalgamation of two brand’s products.
Creating joint products is a means to generate an effective go-to-market strategy that will ensure brand capital and create distinct value propositions. Just take a second to think about it. If you sell a physical product, consider co-creating a version of your product with a distinctive partner. The partner of your choosing will not only be happy to promote some joint products that features its branding, but this Partnership Marketing strategy will ensure your brand exposure to an entirely new audience that might be interested in your future products.
This type of Partnership Marketing is generally considered one of the innovative of all, mainly because they emerge between two brands who create a new product or combine existing products in order to complement one another to add value for the consumer.
Joint products examples
Not sure if it will work? Take a look at all of those joint products examples that made a difference. For instance, Samsung and Adidas recently had a collaboration that end up in creating joint products. Samsung and Adidas are two different brands selling totally distinct products. Besides market share and brand exposure, what they have in common is their need for making a change and for sustainability.
The joint products strategy between the two giants has brought together the Stan Smiths tennis shoes and the Galaxy Buds Pro to a new common market. The wireless earbuds were given a makeover with the signature white and green color combination with a few extra redesigns, including a charging with a snapback hat design that has an Adidas logo on it.
Although Adidas and Samsung operate in different markets, by creating this kind of partnership of joint products they were able to create a forward-thinking product that helped users in their day-to-day. Not only that, but since both brands are big household names, they were able to leverage one another’s reputations to tap into new audiences, boost brand awareness and gain a significant amount of media attention.
Besides the many other collaborations, here are two more:
H&M and Fashion Designers
BMW & Louis Vuitton
In a hyper competitive market, a brand should always have in mind new ways on keeping its strategy path relevant to the consumers. Possibilities are infinite when adopting Partnership Marketing strategies!
Ready to be filling a gap in your offer or even benefitting from the distribution channels of a partner brand? Then it is not worth waiting to generate a Partnership Marketing strategy such as creating a joint product with another brand. Quite curious on how to spot out the right partners to suit your brand? Join our platform for FREE and find out new audiences you can share your offer with.
